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Shared mobility has become a buzzword in the automotive industry nowadays and for the same reason many carmakers are engaging themselves in this new trend by the means of partnership. Ola, one of the popular cab service providers in the country has signed a pact with the automaker Mahindra in order to increase the ride-share fleet by 40,000 cars. The company has stated that the deal will be increased up to the said number in the course of two years. While Nissan had inked a similar agreement with the cab aggregator in 2015 in order to buy and lend cars to its drivers, Tata Motors has been associated with Uber a while ago.
"India's mobility needs are unique and unlike any other market globally. Shared mobility will leapfrog car ownership as a paradigm in terms of percentage car ownership.
But as an absolute number, there will definitely be an increase in ownership. But in terms of utilisation, share mobility and ride sharing will drive the future needs of the country in the time to come," says, Bhavish Aggarwal, CEO, Ola Cabs.
Ola is aiming to list 5 million cars under its cover at any cost in the next five years. Mahindra Group conveys that the collaboration won’t be restricted to Mahindra Auto only and the service will be expanded to the entire segment. Basically, Ola drivers can avail the benefit of 100 percent financing on the new as well as pre-owned cars. For their convenience, the company will offer schemes at lower premiums, said, Anand Mahindra, Chairman, Mahindra Group.
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The Auto giant plans to put together the Ola cab drivers who are under the CSR scheme as they will be benefitted with INR 15 lakh insurance amount and discount on spares will be given as well. Furthermore, a certain amount of scholarship will be received by their children. It is to be noted that there’s no exclusive agreement with Ola by the Indian automaker, which implies other taxi aggregators could be included in the pact option later.
At the beginning, Mahindra will add the regular Verito sedan to the fleet, however, the introduction of its electric vehicles could be done later. To connect with the digital ride-sharing program, the carmaker has made a smart move following the same path as Reliance has initiated recently with Jio smartphones. The scheme offers low internet cost-benefit attracting more and more buyers day after day. Mahindra sees a similar potential growth on this online business.
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